Man pleads guilty to commercial corruption charges

A former commercial property manager has pleaded guilty to commercial corruption charges.

The Serious Fraud Office laid the charges against Christopher Green under the Secret Commissions Act.

The 66-year-old corruptly received and retained secret commissions totalling around $142,000 for referring insurance business to Herbert Insurance Group.

His employer - a client of HIG - was consequently over-charged by about $220,000 for that insurance.

Acting SFO Chief Executive Simon McArley says everyone is a loser when commercial corruption, in the form of kick-backs, occurs.

He says it distorts the market causing otherwise competitive companies to lose business and results in higher prices for consumers.

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